Disgraced Mt Gox CEO Goes For Second Try With Web-Hosting Service (And No, Bitcoin Not Accepted)

Mt Gox may be long gone in the annals of bankruptcy, but its founder refuses to go gentle into that insolvent night. And, as CoinDesk reports, the disgraced former CEO of the one-time premier bitcoin trading platform has decided to give it a second try by launching new web hosting service called Forever.net and is registered under both Karpeles’ name and that of Tibanne, the parent company of Mt Gox.

“TIBANNE Co.Ltd. is a Tokyo, Japan-based corporation founded in 2009 by talented technopreneurs. TIBANNE specializes in web hosting, IP transit, VoIP, software development and network administration. We are currently engaged in the reserch and development of new and existing services to produce innovative solutions for our clients.”

As CoinDesk notes, while Mark Karpeles has managed to keep a relatively low profile following the collapse of Mt Gox, he is willing to talk about other projects.

In an email exchange with Calouro, Karpeles said Tibanne has been in the web hosting business for years. “We’ve been doing this since 2009, and even before founding Tibanne I help found a couple other hosting companies,” he said.

Going into details on his new company’s offerings, Karpeles said Forever.net will offer cluster-backed VPS servers with RAID1 on top of RAID 5 physical storage with hot spare drives on standby.

Here's to hoping that unlike his most famous previous venture the data stores on Karpeles' new servers won't just... disappear.

And speaking of bitcoin, so far there is no mention of this electronic currency anywhere on the site. This may change though:

Karpeles explained that Tibanne experienced a substantial loss of revenue due to the collapse of Mt Gox, coupled with an increase in legal costs. Now Tibanne is focusing on controlling expenses and generating revenue in an effort to “do its part in the Mt Gox bankruptcy process”, he said

“We are also considering accepting payments in BTC/LTC/etc.” said Karpeles. “Tibanne’s other hosting service KalyHost.com has been accepting BTC since Sept. 2010 and generated since then a total revenue of over 13,000 bitcoins.” Karpeles added that Tibanne will soon be releasing a new version of KalyHost.com as well.

The collapse of Mt Gox was caused by the alleged theft of about 850,000 BTC, although 200,000 BTC was recovered from an outdated wallet following the collapse.

Which also means that some 650,000 BTCs are still "out there" somewhere, despite bitcoin's much vaunted ability to track down and reverse any public theft. What it means about Karpeles ability to run a business in which every bit matters we leave up to readers.

As for Forever.net, somehow we feel that the irony of Karpeles' attempt to return to the spotlight starts with the name itself.

CH1, I've seen you post positively about bitcoin before and I have a question/comment.

What would stop some ultra rich person from getting someone to write a persona software to handle many bitcoin wallets, host them all over the world on VPNs, and trading amongst themselves to make it appear there was a market?

At the beginning someone with a few million USD could have literally bought all the bitcoin (or enough to corner the market).

Anyway, my point is that while everyone focuses on the security, there is a completely legal/non-hack way to control the bitcoin market - own the majority and simulate activity.

If we are going to constantly talk about someone hammering PM markets with billions of dollars... can't we imagine that the most powerful/fiat-wealthy people on the planet wouldn't be able to simulate a few million a day in bitcoin?

edit: I am not saying ALL the bitcoin market is fake, just enough to allow it to be used to manipulate/control the users. (Full disclosure: I think it is NWO-global currency BETA)

If we are going to constantly talk about someone hammering PM markets with billions of dollars...can't we imagine that the most powerful/fiat-wealthy people on the planet wouldn't be able to simulate a few million a day in bitcoin?

PM markets manipulation using paper gold certificates is pretty easy.

But in Bitcoin markets there are no "paper BTC". You are trading the Real Thing(TM).So they might be buying up all those BTCs driving the price up through the root.And what would they do next?

Yes, someone could trade back and forth to himself, but that wouldn't affect the price overly much. Here's why:

1. Those trades add supply AND demand. Price is set by the balance of suplly and demand. This game would elevate volume. That might ancourage some demand decisions ("volume is good, let's buy"), but it would not by itself add demand.

2. The BTC market cap is 5-10 billion. Some millions isn't that big an effect.

In short: Yeah, assholes could play games, but I don't think the games would be especially significant.

"According to a joint report by Cyrus Farivar of Ars Technica and Pierre Alonso of Le Monde, Karpelès was found guilty of fraud when he was tried in absentia in France in 2010. He also admitted to having "pirated" a server to French authorities. He was sentenced to a year in jail but has not yet served his sentence."

When you enter a comment and hit save, it updates and shows the formatting and puts the buttons there again and makes you think you need to click it. If you no clicky, it no doubley. It'll auto refresh back to the comments in a second.

The web developers here suuuuuuuuuuck. shitty posting methodology, a never ending trail of errors with the ratings, a non-existent actual search in the search engine, a goony-bird overall layout . For the eventual question to come, yes, I can do better.

still trying to figure out how to activate my claim. i got the information in the mail but it doesnt coincide with the information on the site. in otherwords, i cant activate my claim. anyone else having this same issue?

Those who got in early and made a mint"Financial Experts" who did not get in early and are now really pissedThose who get in and still make a mintThose who won't get in until they have no choice because by then it will underpin the global economy.

Bitter ZHer that held on to precious metals until the government ordered door-to-door SWAT reclamation, gunned down in his back yard bunker while refreshing ZH and wondering what fresh meal picture to post in addition to his faked-moon-landing beliefs.